Balloon Boy certainly lives up to his mischievous ways in the "Five Nights at Freddy's" movie, and if a sequel ever materializes, he could introduce a whole new facet to the terror any new characters would experience. It's one thing to try to run away from Freddy or Foxy. They're pretty big, and people could hear and see them coming. But Balloon Boy is fairly innocuous looking and can get into areas the other animatronics can't. Balloon Boy may not kill in the games, but it would be a nice surprise for fans to see him get some blood on his hands the next time around.
Balloon Boy goes on to appear in a more limited capacity across later "Five Nights at Freddy's" games. But he isn't the only new addition to terrify players. In the event a "Five Nights at Freddy's" movie sequel does happen, the filmmakers are going to have to up the ante in some way. Other animatronics do get introduced, such as the Puppet and Circus Baby, and there are also variations of the main bots we see in the current movie.
As fans know all too well, there's a ton of lore within this franchise for future movies to explore. Balloon Boy is the tip of the iceberg, and while the end of "Five Nights at Freddy's" suggests some kind of justice has been served, there's always more evil out there.